Free «Project Management » Essay Paper
Table of Contents
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- Planning a project
- The project proposal
- Project planning
- B. the food joints with the new KFC tag will make sales
- 1. Lack of adequate number of buyers
- 2. Competition from other well doing joints
- 3. Passive market
- 4. Huge expenses that may be hard to recover
- 5. Low demand for the new product
- Managing the implementation of a project
- A REPORT ON THE PROPOSED FRANCHISING OF KFC IN THE UNITED KINGDOM
- 2. Inadequate resources were a set back to the whole process
- Related Management essays
Project management involves a long process of planning and setting up a frame work that will see the successful completion of a given task. In project management, the individual is responsible for harmonizing all the available resources so as to achieve a given goal. The project manager should have the power to energize and motivate his workers to help realize the end product. Planning involves working out in a broad outline, things that ought to be done and methods for doing them to accomplish organizational objectives. This is a vital administrative function; this is because planning sets a pattern for other activities to follow (Mandura, 2010). Planning has four elements:
- Evaluating environmental forces and organizational resources. This enables the planner to understand the current situation, establish problems that need to be solved, understanding the hazards of the situation and finally find out the possible outcome.
- Establishing goals for the whole enterprise and the individuals.
- Developing strategies and plans that will help the organization achieve the set goals. These strategies should be goal oriented and efficient.
- Formulation of decision making processes. The planner should look into any arising issue and make a sound judgment that will help the project achieve the final result.
Planning is the first function in project management. Thus, this process calls for prudence and attention. If there is a hitch in planning, the result may not be easily realized. The results of planning serve as the blue print to be followed by all the members of staff.
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Organizing is the process that entails according different roles to the members of staff. Role implies that people have a definite purpose or objectives. Staff in an organization is more effective when their roles are clear. Organization establishes a framework for members of a team to understand and realize how their different roles interrelate (Mandura, 2010).
- Identifying and classifying the activities of each member of staff.
- Departmentalization, here different roles are grouped and accorded to a given team.
- Assigning each group to a manager who supervises all the group’s activities and reports to the head according to the set rules and procedures.
Therefore, organizing is a whole process of establishing the internal structure of roles for the involved parties to play (Mandura, 2010). Organization further ensures that all the tasks and responsibilities are assigned to the relevant departments.
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Staffing is a principle key in the process of project management. This refers to hiring, training and maintenance of a favorable environment that can enhance productivity in the staff. Project staffing involves the following key areas,
- Identifying work force requirements whereby the company identifies the need at hand and hence looks into acquiring the talent.
- Inventory of the available human resource. This process involves listing all the staff members and their different responsibilities.
- Recruiting where individuals who qualify are allocated job positions
- Planning their careers
- Compensating, promoting and training- here the staff are adequately remunerated, and given incentives to help them deliver.
Directing is a crucial aspect in the process of project management. In directing, the project manager is involved in commanding and stimulating the staff. This is a continuous process of whipping the staff to perform and deliver in their different fields. Directing is in all levels of the organization and all departments. The core purpose of directing in project management is to get employees to work toward the realization of the goals. It involves motivating and influencing the employees.
Coordinating is a vital principle in project management. In any organization, efforts are made in a different way. Employees working for similar interests may interpret them differently. This makes it necessary to reconcile differences in approach, effort, or interest, and harmonizing the individual goals to contribute to organizational goals (Mandura, 2010).
The project coordinator must:
- Know the relations among the people
- Understand task allocation
- Know the division of labor necessary to the achievement.
Coordinating, therefore, involves inter-relating the parts of the total enterprise into a homogeneous whole and avoiding conflict and duplication which may interfere with the entire project (Mandura, 2010).
Reporting is another principle in project management. This process involves keeping all the staff members informed of what goes on. This can help them to play their role in a harmonious and coordinated manner. Reporting involves keeping the subordinates and the superiors informed through records, research, inspection and memos.
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Budgeting is the final project principle. This is the process of fiscal planning, accounting, control and maintaining financial stability in the project. Here, formal statements are prepared to show the future expenditure, revenues and the expected revenue. Budgeting helps to control the use of the projects resources and finances. This process is a detailed administrative practice used to ensure goals, plans and policies are met (Mandura, 2010). Budgeting thus sets a standard for output and production by specifying the resources to be used. Thus, budgeting is a vital step for the successful implementation of all the project strategies.
In any project, it is essential to identify the success or failure of the whole process. This enables the project manager identify the key areas that require back up and extra attention. Defining failure and success help the investors know the venture they want to explore and prepare for any possible outcome.
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Management system is software designed for use by members of staff. This system is used by all members working on the same project. There are several types of system software. A project manager should be aware of the best system software that will suit his/her project.
The transaction- process system is one of the most used software. It is designed to handle massive volume of data and recurring transactions. It is used in banks, supermarkets and billing systems. The operational information system is structured to gather pertinent data, organize it, and summarize it for use by managers and system users (Mandura, 2010).
Planning a project
KFC United Kingdom is the main focus of theproject.
The project proposal
The intention of this project is to convince KFC United Kingdom to allow investors use the company’s trademarks and labels. This will enhance the spread and establishment of many branches and consequently increase the revenue collected by this company. All the conditions and steps will be taken into account while formulating the project.
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The initial stage is to evaluate the environmental forces and organizational resources. After a study of the environment, it has been established that this approach will create a lot of jobs and career opportunities. Goals are later established to help clear the way forward for the projects (Mandura, 2010).
These goals were:
A. By the end of the year the company should have sold more than one thousand licenses
B. the food joints with the new KFC tag will make sales
C. many jobs will be created within a span of six months.
Private businesses and insurance firms will be the greatest investors and buyers of this idea. This is because the bid name that KFC has will attract more people and investors. The process of selling will be facilitated by banks who will also offer loans to the willing buyers.
The threats that arise in this project include:
1. Lack of adequate number of buyers
2. Competition from other well doing joints
3. Passive market
4. Huge expenses that may be hard to recover
5. Low demand for the new product
To curb the above problems, the project shall seek ample advice from financial consultancy firms and also carry out a survey in a pilot to see the acceptability of this process. There will also be ample marketing for this project. This will help to create awareness in the market economy. Marketing will also help to attract a significant number of buyers who will help initiate the project success.
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Managing the implementation of a project
The project manager will look for the available resources and support from the company. If permission is granted, the process of implementation can commence. To begin with:
Planning-The project manager should outline the procedures to be followed. These plans will be crucial to the realization of a successful process. The project manager shall develop strategies and plans as follows.
1. The manager will establish the company board of directors to help in the management and directing of the new dispensation.
2. The manager shall make sure that the new joints will meet the KFC standards, its label and prices.
3. The sales per day by these companies and the expected outcome.
Organizing- The project manager will create different positions and list the roles in these different positions.
Staffing-The project manager hence recruits and hires qualified workers to fill all the available levels. This process should be rigorous, and only the most qualified individuals should be given the jobs.
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Directing-The project manager shall look into the project operations. This will help the manager supervise all the company’s operations with the aim of motivating the staff to achieve a successful end. Different people shall work in their designated positions. This will help to avoid any form of confusion in the running of the company’s affairs.
To monitor the company’s progress, the project manager can establish procedures to be followed by members of staff. This will be done by clearly setting out the responsibilities of each department. The manager shall hence be able to hold everyone into account whenever a mistake arises.
A REPORT ON THE PROPOSED FRANCHISING OF KFC IN THE UNITED KINGDOM
The members of the executive committee agreed to carry out a report on the process of implementing the KFC franchise. The following were the findings of the committee on the whole project.
1. It was discovered that the project was viable.
The project attracted a vast number of investors who wanted to own a share in the whole process. This was propelled by the prestige that comes with the KFC label. People from areas, where KFC had no branches were also interested in the idea. This is because they want to have a branch of their own and enjoy the services closer home.
2. Inadequate resources were a set back to the whole process
Although there were many companies interested in the idea, the resources were inadequate. There were individuals who did not have enough money to buy the label and hence were locked out. Some banks did not like the idea and thus their customers were not funded.
3. There was a passive response in some areas.
Although the name KFC comes with a lot of prestige and status, there were areas where the response was negative. Some areas were purist and did not like the invasion of new air in their areas. The project was viable since the response was positive in many areas. However, there is a need to improve the infrastructure and funding for this idea to yield more.
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Dual branding is an ideal method to swiftly expand a business and increase revenue. Such an approach has been used by various big companies in the world. Company did not need to wait for the stores to be built or spend time and money looking for the new locations. By adding a brand to the existing fast-food store, the company will be in a better position to broaden the market and the collection of revenue which is essential for the success of any organization.
Consequently, increased profit was seen as a benefit of dual branding. The company will consequently gain profit as the cost of putting up new infrastructure is cut by a big percentage. The cost of advertising is also an important portion that is reduced in this venture. This is enhanced by the existence of a mutual management board that is selected through a carefully planned procedure.